Finance About - Did you see the Fox Finance article cautioning us to listen to Ron Paul on the economy?

Did you see the Fox Finance article cautioning us to listen to Ron Paul on the economy?

http://emac.blogs.foxbusiness.com/2008/03/26/time-to-listen-to-ron-paul/#comment-550 "Time to listen to Texas Congressman Ron Paul, the lone voice of reason in Congress today who’s got to feel like he’s shouting into a field of cotton with his repeated warnings about the dangers of a collapsing dollar, while the administration goes AWOL on the problem. The dollar just hit a record intraday low against the euro on reports that consumer confidence levels have dropped to levels not seen since the post-Watergate era. It is down 7% year to date against the Chinese renminbi, it’s weaker than the Japanese yen and the Canadian loonie. A bellwether event of significant import to our nation’s finances happened this past January 1 with little notice. That’s the day the first baby boomer was allowed to retire. A new federal report wearily warns once again for the umpteenth time that the nation faces some $60t in Social Security and Medicare unfunded liabilities alone. We’ve heard time and again conservatives say deficits don’t matter. To say that deficits don’t matter is like saying ketchup is a vegetable or trees cause pollution. The $406b we pay annually in interest on the $9t in federal debt alone would rank as the world’s 30th biggest economy. That annual interest cost surpasses the gross domestic product of Belgium, and is bigger than the GDP of Denmark and Hungary combined. The $406b would cover the annual cost of investigating Medicare fraud. Stack all those one dollar bills making up our $9t deficit (and that doesn’t include the $60t in unfunded liabilities for Medicare and Social Security) and you would reach the moon and back. ”Printing money cannot create wealth, if it could counterfeiting would be legal,” economist Brian Wesbury has said. Even Milton Friedman, the Nobel Prize-winning economist and a forceful advocate for laissez-faire economics, got so sick of the way central bankers were willy nilly printing money in the ‘70s, he advocated that the government should replace the Federal Reserve with a computer. “Money is too important to be left to central bankers,” he quipped." From the economic plans the other candidates have released, there is no focus on substantial spending cuts necessary to turn this situation around. Is it time they listened to Dr. Paul? wrangler, no he is not out of the running. He's going to the U of Penn shortly on the campaign trail and will be speaking at the Nevada state convention and has been invited to the N. Dakota state convention

Public Comments

Yes but HE"s out of the running.
It is time for lunch - that is the only time that Americans understand. Keep them fat and happy and they will allow their freedoms to be taken out the front door!
Ron Paul is not out of the running? Is He ? THANK goodness! I think with all the controversy over the dems and McCain being the only conservative above Ron Paul,he really has a chance, Because the media doesnt seem to support him he hasnt gotten the attention he deserves,I think if people actually heard his ideas they couldnt deny he is what America needs.
And FOX has such credibility! NOT!
I doubt they would admit it even if they did consider what Paul has been saying. I heard once again where SS and Medicare are in grave danger of failing but I don't think they take it as seriously as they should. This has been said before and will be said again. As far as i am considered the only way to give people any hope is to take it out of the governments hands.
It is time the politicians quit treating Americans like they can't handle the truth. We need our politicians to grow up and take their responsibilities seriously. Absolutely, they should listen to what Ron Paul has to say. Anybody that has taken the time to understand how the Central Bank operates, how money is created, and a little history on how we got to where we are today can see that we need to make some very serious changes.... or we'll be in a Depression before we accept that we're now in a Recession.
Thanks for the link to that article. I think the average American doesn't really understand what is happening financially to America! Otherwise they would be backing///voting for Dr. Paul in these primaries. This excerpt from your link may help people understand better: ""Over the last seven years, gold and oil prices have risen in lockstep, up 239% and 267% respectively. If the dollar had also risen in value at the same rate, oil would be selling at about $30 a barrel."" This statement explains exactly WHY gasoline prices have gone over $3 dollars & $4 dollars in some places per gallon. Because the unbacked,,,,un-sound,,U.S. dollar is losing value worldwide,,,,what do Americans expect when the U.S. dollar represents a 9 Trillion dollar debt? Ron Paul apparently is the ONLY Washington D.C. politician that has been trying for years to push for a sound U.S. dollar,,,,once again { pre 1933 } We Americans still have a choice, that is slipping away, vote & elect Ron Paul to President,,,,or slowly slip into a 3rd world country status,,,,,and become the brunt of jokers the world over...
The majority of the sheep out there have no idea about the economy, so they are voting for people who have no clue about the economy. Ron Paul is the only candidate running who has a CLUE about our economic policies. He's been predicting this economic downfall for years. He's a senior member of the House Financial Services Committee. He got involved in politics when Nixon took us off the gold statndard back in 1971. He knew that when we went off the gold standard it would only be a matter of time before the Federal Reserve caused another Great Depression. And now it's happening. In the words of Ron Paul: Recently I had the opportunity to question Federal Reserve Chairman Ben Bernanke when he appeared before the congressional Joint Economic committee. The topic that morning was the state of the American economy, and many of my colleagues raised questions about how the Fed might better "regulate" things to ease fears of an economic downturn. The tenor of my colleagues' questions suggested that Mr. Bernanke's job is nothing less than to run the U.S. economy, like some kind of Soviet central planner. Certainly it’s true that Mr. Bernanke can drastically affect the economy at the drop of a hat, simply by making decisions about the money supply and interest rates. But why do members of Congress assume this is good? Why do we accept without objection that a small group of people on the Federal Reserve Board wields so much power over our economic well-being? Is centralized, monopoly control over our money even compatible with a supposedly free-market economy? Few Americans give much thought to the Federal Reserve System or monetary policy in general. But even as they strive to earn a living, and hopefully save or invest for the future, Congress and the Federal Reserve Bank are working insidiously against them. Day by day, every dollar you have is being devalued. The greatest threat facing America today is not terrorism, or foreign economic competition, or illegal immigration. The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch – Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference – that threatens to impoverish us by further destroying the value of our dollars. The Fed’s inflationary policies hurt older people the most. Older people generally rely on fixed incomes from pensions and Social Security, along with their savings. Inflation destroys the buying power of their fixed incomes, while low interest rates reduce any income from savings. So while Fed policies encourage younger people to overborrow because interest rates are so low, they also punish thrifty older people who saved for retirement. The financial press sometimes criticizes Federal Reserve policy, but the validity of the fiat system itself is never challenged. Both political parties want the Fed to print more money, either to support social spending or military adventurism. Politicians want the printing presses to run faster and create more credit, so that the economy will be healed like magic – or so they believe. Fiat dollars allow us to live beyond our means, but only for so long. History shows that when the destruction of monetary value becomes rampant, nearly everyone suffers and the economic and political structure becomes unstable. Spendthrift politicians may love a system that generates more and more money for their special interest projects, but the rest of us have good reason to be concerned about our monetary system and the future value of our dollars. Ron Paul - April 10th, 2007 Ron Paul has been saying this for decades. Allowing the Federal Reserve to control interest rates (instead of the market itself), and having a dollar backed by NOTHING, by definition causes inflation. Inflation is a TAX on the middle class and the poor. Low interest rates helps the people at the top of the "money pyramid" at the expense of the people at the bottom. Imagine how it would be to save all your life for retirement, and suddenly, in less than 5 years, the value of your savings is 1/2 of what it used to be. AL FIAT MONEY SYSTEMS FAIL. Every one, throughout history. More info... Here's Ron Paul schooling Bernanke just last month... http://www.youtube.com/watch?v=gldETRlhi... http://www.lewrockwell.com/paul/paul53.h... http://www.lewrockwell.com/hornberger/ho... http://www.lewrockwell.com/paul/paul436.... And personally, I think he would make a great president. He's right about every REAL issue affecting Americans today... The war. The economy. Abolishing the income tax along with the Fed. Our rights and freedoms being stolen. Globalization and the upcoming North American Union. The fact that we ignore our Constitution more and more every day. And the big one... He CANNOT be bought. All the other CFR shills running have been bought and sold many times over. Wake up America!
If it works then they should do it.
Republicans LIE...and are LIARS...! When it has to do with something REALLY, REALLY BIG ...they lie lie lie... Why is Ron Paul "Republican and not an Independent? I support his message on this issue...(but for me has ben one for more than 20 years....) Why is he a GOP-Republican? Maybe he is a Politician/ Libertarian... And how is being a Libertarian good for average, middle-class Americans who need good schools for their kids, affordable Healthcare and a non-feudalistic society (AKA serfdom) ......
Yes, I read it and as usual Dr. Paul is right By the way, you'll probably like the newest 3D Ron Paul commercial http://www.youtube.com/watch?v=-3MLTvYBQy0 http://hightidepromo.com/large.html I am doing my part to spread the message around